Updated over 1 year ago on . Most recent reply
example of Wholesaling deal
Im a new wholesaler and ive got my eye on a sfr thats listed for 265k free and clear owner, the whole inside is gutted so all it needs is appliances tiling/carpet, countertops etc... outside is mint and updated already. Theres two comps very nearby in very similar sqft that sold which was 391 price per and 429 price per sqft. The house im looking at is 888 sqft so i added the two sqfts of the houses that sold divided by 2 and then multiplied by my sqft (which is 888) and got and Arv of $364080. and im assuming the rest of the renovation is gonna be around 30k? not positive but ballpark guess not sure how much those cost yet... but im using the 70% formula so 364,080 x 70% - 30k (repairs) - 8,500(whoelsale fee) and i get $216,356 as my (MAO). Does this seem like a legit offer or am i missing anything here?